Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

Latest StoriesRegulatory

ED Raids Raheja Developers Over Homebuyer Fraud Case

NEW DELHI: On Tuesday, the Enforcement Directorate reported the seizure of “incriminating” documents and asset details during searches of real estate firm Raheja Developers Ltd. and its directors, as part of a money laundering investigation linked to alleged fraud against homebuyers. The raids occurred on June 27 in Delhi-NCR and Mohali, Punjab. The ED’s money laundering case arises from several FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja, and others. The agency stated that the FIRs claim “substantial” sums were fraudulently collected from investors and homebuyers with…

IndustryLatest Stories

Jaipur: Pay Urban Development Tax Online with JMC-Greater

JAIPUR: To enhance revenue generation, JMC-Greater is now offering residents the option to pay their urban development (UD) tax online or request home collection services. Starting July 1, the JMC-G will also conduct tax collection camps in all wards on a rotational basis. Officials have stated that property owners can call the toll-free number 1800-572-8545, which is managed by the corporation’s authorized firm, to arrange for a collection agent to visit their home. Additionally, UD tax payments can be made through any UPI application using the QR code printed on the UD tax bill. At the collection camps, property owners…

Latest StoriesResidential

Odisha Urges ULBs to Speed Up PMAY 2.0 Application Checks

BHUBANESWAR: In a bid to ensure the prompt allocation of homes under Pradhan Mantri Awas Yojana 2.0 (PMAY 2.0), the housing and urban development department has instructed all urban local bodies to hasten the verification process for applications submitted by beneficiaries. In a communication to the heads of urban local bodies, Satish Chandra Singh, joint secretary of the Odisha Urban Housing Mission, expressed dissatisfaction with the sluggish pace of the verification process and urged faster action alongside increased awareness among beneficiaries. Data indicates that 82,382 applications have been received to date, with 48,598 pertaining to beneficiary-led construction. However, only 13,925…

Latest StoriesRera

Over 7,000 Complaints Still Pending with MahaRERA

Eight years after its establishment in 2017, Maharashtra’s real estate regulator, MahaRera, is still facing a considerable backlog of unresolved complaints. Out of the 29,374 complaints filed, 7,310 are still pending, leading to calls from homebuyers, legal experts, and activists for quicker resolutions and stricter enforcement of orders. While MahaRera has successfully resolved 21,888 cases and conducts both online and offline hearings, the growing number of unresolved cases has raised concerns among consumer advocates. They emphasize the need for more adjudicating officers and additional regional benches to manage the increasing workload. MahaRera has registered over 50,000 real estate projects—the highest…

CommercialLatest Stories

West Bengal to Develop Four New IT Parks

KOLKATA: The Bengal government plans to establish four new IT parks, with three located in north Bengal and another in Chinsurah, Hooghly. The Gorkhaland Territorial Administration (GTA) has commenced work on the IT park in Kurseong, while construction in Kalimpong is expected to begin shortly. State IT and Electronics Minister Babul Supriyo stated: “We are significantly focusing on developing IT infrastructure in north Bengal. With all three existing IT parks in Siliguri fully operational and at 100% occupancy, we are motivated to create three additional parks in the region. The GTA is responsible for constructing the IT park in Kurseong,…

Housing FinanceLatest Stories

Star Housing Finance’s FY25 Profit Up 25%

Representative image MUMBAI: Star Housing Finance Limited (Star HFL), a BSE listed company focused on affordable home financing across various states, has reported significant annual financial results showcasing growth in assets under management (AUM) and stable asset quality. For the fiscal year ending March 31, 2025, Star HFL reported a total revenue of Rs. 94.96 crores, reflecting an impressive 54.06% year-on-year growth. Profit after tax (PAT) increased by 25%, reaching Rs. 11.10 crores, up from Rs. 8.88 crores in FY2023-24. In the fourth quarter of FY2024-25, the company achieved total revenue of Rs. 27.89 crores and PAT of Rs. 2.93…

InfrastructureLatest Stories

Pasarwadi Villagers Granted 2 Acres for New Homes in Malin

PUNE: The Ambegaon tehsil administration has allocated two acres of safe land for 34 tribal families residing in the Pasarwadi hamlet of Malin village to build new homes. This village, perched on the edge of a hill, faced soil cracks last year, raising concerns about potential landslides. The community remains anxious following the devastating landslide in 2014 that claimed 151 lives. Ambegaon’s Tehsildar, Sanjay Nagtilak, stated, “The new land is safe and appropriate for building houses. We will provide financial assistance through state and national welfare schemes, and we will also seek CSR funds to support the residents in home…

Latest StoriesRegulatory

Allahabad HC Secures Registry of 220 Noida Flats After Builder’s ₹25 Crore Offer

NOIDA: The Allahabad High Court has directed the Noida Authority to proceed with the flat registries for the Grand Omaxe and Forest Spa projects in Sector 93B, facilitating 220 families in obtaining their property documents. The ruling followed the developer’s commitment to deposit an additional ₹25 crore with the Authority within two weeks, enabling the registry of 50 more flats. Previously, the company had contributed ₹93 crore under the state government’s rehabilitation scheme for stalled projects, allowing 170 flats to gain registration approval. The Grand Omaxe and Forest Spa projects feature a total of 1,692 sanctioned flats, out of which…

IndustryLatest Stories

Lucknow Property Rates Set to Increase with New Circle Rates August 1

Sure! Here’s a rewritten version of the content: LUCKNOW: The cost of residential and commercial properties in Lucknow is set to increase as the district administration plans to implement revised circle rates starting August 1. According to Rakesh Kumar, the additional district magistrate (finance), the new rates reflect an average increase of 15% across all property types, aiming to keep pace with the city’s rapid urban growth, improved infrastructure, and rising demand for properties. The last revision of circle rates was conducted in 2015. The new rates will affect 77 major arterial roads and 26 approved residential colonies. In prime…

Latest StoriesResidential

Maharashtra to Notify Draft Rules for Housing Societies Soon

PUNE: The state government is set to introduce a new set of draft rules for cooperative housing societies within two weeks, confirmed officials from the cooperation department on Monday. The proposed amendments are aimed at minimizing conflicts, simplifying the redevelopment process, and enhancing transparency in the operations of societies throughout the state. A significant aspect of the draft includes a reduction in interest on maintenance dues from 21% to 12%—a change residents believe has been long overdue. Additionally, the rules will allow for hybrid AGMs, mandatory video recording of redevelopment meetings, and permit societies to secure redevelopment loans based on…